The Global Black Currant Extract Market is expected to exhibit strong growth, reaching USD 341.2 million by 2030. As per the report titled “Black currant extract Market Size, Share & COVID-19 Impact Analysis, By Type (Powder, Capsule and Other), By Application (Food And Drinks, Cosmetic and Other), and Regional Forecasts, 2023-2030” observes that the market size in 2022 stood at USD 190.5 million and USD 341.2 million in 2030. The market is expected to exhibit a CAGR of 10.20% during the forecast period.
Gin with a Black Currant Flavour called Tanqueray in the UK
In February 2021, Diageo's Tanqueray gin brand recently introduced a black currant-flavored variety in the UK. This new offering combines the four botanicals of Tanqueray London Dry Gin with black currants, vanilla, and the ‘exotic floral' overtones of black orchid.
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Growing Demand from Pharmaceutical and Nutraceutical Industry to Accelerate Market Growth
Due to rising demand from the pharmaceutical and nutraceutical industries, it is anticipated that the black currant market would expand significantly. Antioxidants, vitamins, and other healthy nutrients can be found in abundance in black currants. Because of this, the demand for goods containing black currants has increased as they have gained popularity in the health and wellness sector. Black currants' high polyphenol content has drawn the attention of the pharmaceutical sector due to its potential as an anti-inflammatory and antibacterial agent. Furthermore, black currants contain a lot of vitamin C, which is vital for a strong immune system. For pharmaceutical companies aiming to create all-natural, potent remedies for a range of medical ailments, these qualities make black currants a desirable ingredient. Black currant demand is also being driven by the nutraceutical sector. In many nutraceutical products, black currants are a common ingredient. Nutraceuticals are foods or food products that offer health benefits above and beyond those of basic nutrition. Anthocyanins, a type of plant pigment that has been linked to anti-inflammatory, antibacterial, and antioxidant effects, are abundant in black currants.
Lack of Awareness for Black Currant Extract Could Impede Growth
A significant market barrier for black currant extract is a lack of awareness. In contrast to Europe and certain areas of Asia, where black currants have been consumed for millennia, North America and South America are less familiar with them. The demand for items containing black currant extract in these areas may be impacted by the low level of awareness. The limited exposure of black currants in popular media and advertising is one factor contributing to their low level of awareness. Unlike to other superfruits like blueberries and pomegranates, black currants have not attracted as much attention from the media or from marketing initiatives. Because of this, many customers might not be aware of the possible health advantages of black currants or the existence of goods containing black currant extract.
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Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the black currant extract market plan acquisitions to improve their brand recognition globally. For instance, in July 2020, a black currant extrqct beverage with a balanced amount of nutrients and antioxidants will be sold by the New Zealand sports nutrition firm 2before Performance Nutrition to enhance exercise performance and recovery.
Recent Development:
In April 2020, the New Zealand-based company Vitality Wellness launched its black currant-based immune health supplement to meet the growing need for healthcare caused by the COVID-19 epidemic.
List of Key Players Profiled in the Report
- Major players covered
- Nutra Green
- Specnova
- Herb Green Health Biotech
- Ningbo J&S Botanics
- Swanson
- Tokiwa Phytochemical
- Waitaki Biosciences
- YOUBIO
- Undersun
- Xi'an Greena Biotech
- Sunnycare
- NATIVE EXTRACTS
- Lemon Concentrate
- BCNZ
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Further Report Findings
- The market in North America is expected to gain a huge portion of the global Black currant extract market share in the coming years. This region has a greater consumer base in the food industry.
- In countries like China, India, and Japan, there was a larger consumer base on the black currant extract market.
- In the Asia Pacific, the growth in this region is primarily driven by expanding cosmetic industry use of black currant extract.
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